Victoria Falls is entering a new investment phase as developers target its expanding tourism economy.
Major projects now extend beyond traditional hotels and attractions around the waterfall.
Instead, investors are building luxury residences, hotels and essential infrastructure across the resort city.
Econet InfraCo is developing premium residential properties in Victoria Falls.
Meanwhile, Eagle REIT is investing US$50 million into a mixed-use development.
The project will include a hotel, premium hospital and residential units.
Luxury Developments Target Wealthy Tourists
Developers increasingly see opportunities among visitors seeking privacy, comfort and exclusive experiences.
Godfrey Gomwe, InfraCo Board Chairperson, said the company remains focused on premium residential development.
“We are advancing the private residences. By developing these ultra-modern, secure luxury villas, complete with world-class clubhouses and amenities, we are demonstrating our commitment to unlocking high-value yields right here in Zimbabwe’s premier economic and tourism corridor,” said InfraCo Board Chairperson Godfrey Gomwe.
Africa Albida Tourism is also expanding Victoria Falls’ luxury accommodation offering.
Its Albida Victoria Falls development targets visitors seeking secluded and personalised experiences.
Africa Albida Tourism Group Sales and Marketing Director Anald Musonza explained the project’s focus.
“If you look at the tourism market and the various segments that we cater for, we have the ultra-luxury market, those who really need a bit of peace and quiet in secluded places. This product, Albida Victoria Falls, was developed to cater for that high-end market that requires smaller properties hidden in unique locations,” said Africa Albida Tourism Group Sales and Marketing Director Anald Musonza.
The development will initially feature 13 villas across two accommodation categories.
“We are starting with 13 villas, 10 of which are deluxe villas that can accommodate a couple or two people, and three of which are family villas that can accommodate up to about four people,” he added.
REITs Could Transform Tourism Infrastructure
The investment momentum has also attracted Government attention towards property-based investment vehicles.
Deputy Tourism and Hospitality Industry Minister Tongai Mnangagwa said Government is developing a tourism-focused REIT.
“Tourism is also involved. We are working on one that we are going to launch, where we will build hotels. The Ministry of Tourism and Hospitality Industry is working with other partners on its own REIT, through which we will build infrastructure,” he said.
The proposed model would raise private capital before funding hotel construction across Zimbabwe.
“We raise money from people who are interested in investing in infrastructure, build hotels across the country and eventually engage established hoteliers to manage them. It is an interesting development happening in Victoria Falls, where these REITs are coming in and building modern infrastructure. That will keep Victoria Falls on the map and ensure it remains a competitive destination.”
For investors, REITs can provide access to property opportunities through pooled capital.
They can also connect private funding with professionally managed tourism assets.
Furthermore, Treasury sees REITs as important tools for strengthening Zimbabwe’s capital markets.
Finance Minister Professor Mthuli Ncube said these instruments could unlock additional infrastructure investment.
“The REIT, or Real Estate Investment Trust, programme or instrument is an innovative mechanism designed to attract and stimulate investment into the infrastructure space. We are pleased that these instruments have taken root and have been consolidated on the Victoria Falls Stock Exchange,” said Minister of Finance, Economic Development and Investment Promotion Professor Mthuli Ncube.
He also highlighted the wider investment reach of REITs beyond Victoria Falls.
“It means the Victoria Falls Stock Exchange can become a source of innovative instruments that will transform the Victoria Falls area and Zimbabwe in general, because the resources raised are not only invested in Victoria Falls, but across the country. If you take Eagle REIT, for example, the company is investing in Mazowe and other parts of the country apart from Victoria Falls,” Professor Ncube said.
Infrastructure development is simultaneously accelerating through the Masuwe Special Economic Zone.
Government approved a US$66.9 million investment from the JR Goddard consortium.
The consortium will develop the first 271.5 hectares of the zone.
The project includes roads, water systems, sewerage networks and electricity infrastructure.
Consequently, the investment could unlock more tourism, hospitality and property developments.
Victoria Falls is therefore building more than attractions for international visitors.
The city is developing an interconnected property and infrastructure economy around its tourism potential.
That expansion could encourage longer stays, higher visitor spending and sustained investor interest.
The post Victoria Falls Is Booming as Tourism Sparks a New Property Investment Wave appeared first on iHarare News.
